Naira Falls Against Pound After Conservatives Sweep UK Election 

By Dipo Olowookere The Nigerian Exchange (NGX) Limited commenced the first trading session in December 2023 on a bullish note, with a marginal growth of 0.08 per cent. Sustained buying pressure kept Nigerian stocks in the positive territory, extending the dominance of the bulls on Customs Street, though the turnover waned. Business Post observed that investors cherry-picked equities in the banking and the energy sectors during the session, leaving them rising by 1.14 per cent and 0.05 per cent, respectively. However, the insurance counter lost 1.10 per cent, the consumer goods index depreciated by 0.08 per cent, and the industrial

By Modupe Gbadeyanka The chairman of the Federal Inland Revenue Service (FIRS), Mr Zacch Adedeji, has asked his counterpart in the Economic and Financial Crimes Commission (EFCC), Mr Ola Olukoyede, to support his agency to achieve the Renewed Hope Agenda of President Bola Tinubu, who appointed both of them. Speaking during a courtesy visit to the headquarters of the anti-money laundering firm, Mr Adedeji said the EFCC has a role in ensuring that taxpayers’ funds are “judiciously utilised in line with the social contract with the people.” He assured that the FIRS would continue to strive to raise the revenue

By Adedapo Adesanya President Bola Tinubu is targeting to grow Nigeria’s economy by 3.76 per cent next year and moderate the country’s inflation to 21.4 per cent. Speaking at his first budget speech to lawmakers on Wednesday, President Tinubu also projected higher oil production and tax collection, noting that this will boost government revenues and cut down on reliance on borrowing to finance budget deficits. Nigeria plans on spending N27.5 billion in the 2024 fiscal year, with priorities on security, infrastructure and easing the high cost-of-living crisis. The country will borrow around N9 trillion and N18.5 billion generated from internally

By Adedapo Adesanya Crude oil prices fell on Thursday members of the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) agreed to voluntary output cuts for the first quarter of next year, falling short of market expectations. As a result, Brent crude futures lost 27 cents or 0.3 per cent to close at $82.83 per barrel, and the US West Texas Intermediate (WTI) crude futures went down by $1.90 or 2.4 per cent to $75.96 a barrel. On a monthly basis, Brent fell by 5.2 per cent while WTI was down by 6.2 per cent. Saudi Arabia, Russia

By Adedapo Adesanya President Muhammadu Buhari has delivered what is his last Christmas speech as the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria. In the speech delivered on Saturday, December 24, 2022, he tasked Nigerians to put their differences while hailing the performance of his administration in the last seven years since he took office on May 29, 2015. The full speech I heartily rejoice with our Christian brothers and sisters on the occasion of this year’s Christmas. Many of us look forward to this festive season as a time to travel, share gifts,

By Modupe Gbadeyanka Public and private schools in Lagos State can begin full resumption from Monday, October 19, 2020, the Commissioner for Education has announced. Mrs Adefisayo, while speaking on Monday (today), explained that the decision to allow the full reopening of schools in the state was taken after careful deliberations and consultations with relevant stakeholders, including safety professionals and nursery school providers. According to her the physical resumption for the year 2020/2021 academic session will now include pupils in pre-primary institutions such as daycare, kindergarten and nursery schools. However, she advised all public and private schools to put safety

By Dipo Olowookere The lawmaker representing Kogi East Senatorial District at the National Assembly, Mr Atai Aidoko, is not having it easy with people of the area. This is because the Senator has been accused of hoarding items he was supposed to give to his constituents for their empowerment under the Millennium Development Goals (MDG) but were allegedly cornered by him. Some of the items, which the lawmaker, who is seeking re-election, allegedly hoarded were tricycles motorcycles, sewing machines and grinding machines. He was said to have released these items because of the 2019 elections. It was disclosed that the

By Modupe Gbadeyanka The Nigerian Stock Exchange (NSE) recorded another weekly gain last week as the All-Share Index (ASI) appreciated by 2.53 per cent while the market capitalisation appreciated by 2.55 per cent to close at 26,985.77 points and N14.105 trillion respectively. According to data from the exchange, all other indices finished higher with the exception of the consumer goods sector, which depreciated by 0.75 per cent while ASeM index closed flat. A total of 36 equities appreciated in price during the week, higher than 35 equities in the previous week and they were led by Total Nigeria, which gained

By Adedapo Adesanya For the second trading day, FrieslandCampina WAMCO Nigeria Plc recorded growth on the floor of the NASD Over-the-Counter OTC Securities Exchange. The performance of the milk maker contributed to the 0.54 per cent gained by the unlisted securities market at the close of business on Tuesday, October 27. Consequently, the NASD Unlisted Security Index (NSI) increased by 3.99 points when activities were wrapped up yesterday to 740.74 points from the 736.75 points quoted a day earlier. In the same vein, the milk-producing company boosted the market capitalisation of the bourse by N2.93 billion to finish at N544.12

By Dipo Olowookere The Rivers State edition of Loya Milk Swim Meet Season 3 witnessed an intense competition for the top spot last weekend in Port-Harcourt. The yearly inter-school competition is sponsored by Loya Milk the premium brand of Promasidor Nigeria Limited. Unlike in the Ibadan challenge which held a week earlier where the host Lifeforte International School effortlessly won five out of the six gold medals, the medals were almost equally split this time between Bloombreed High School and Archdeacon Brown Education Centre, both of Port Harcourt. Bloombreed, which hosted the inter-school swimming contest, had to put up a

By Dipo Olowookere President Muhammadu Buhari has been commended for retaining Mr Godwin Emefiele as Governor of the Central Bank of Nigeria (CBN) for another 5-year term. Making this commendation was the Association of Bureau De Change Operators of Nigeria (ABCON). In a statement issued on Friday, President of ABCON, Mr Aminu Gwadabe, pointed out that the reappointment of Mr Emefiele will sustain stability in the foreign exchange market. “The reappointment of Mr Godwin Emefiele is a good foundation to continuous foreign exchange market stability. “The ABCON Executives and entire members nationwide congratulate the CBN Governor on his reappointment,” Mr